Damodar Valley Corporation fails to clear strategic investor plan

The Damodar Valley Corporation board has failed to invite Expressions of Interest for a strategic investor in the proposed 2,500-MW Raghunathpur power plant at Purulia. ¨The board could not clear the agenda to invite EoI after West Bengal Power Secretary Gopal Krishna objected to it and left the meeting,¨ sources privy to the development said. West Bengal is a shareholder in the power-cum-irrigation utility along with Jharkhand and the Centre. Facing acute funds crunch, the DVC was planning to bring in equity partners for the 2X600 MW phase-I and 2X660 MW Phase-II (Raghunathpur Thermal Power Project).